Apr 13:Union Minister of Coal, Mines, and Parliamentary Affairs, Shri Pralhad Joshi said that during the year 2021-22, National Mineral Exploration Trust (NMET) has received the highest ever release of funds of Rs.125 crore and approved projects cost of Rs.748 crore. Minister Shri Joshi was chairing the fourth Governing Body meeting of NMET here today. Stating that as a fully autonomous body at present, funds will not be a limiting factor for NMET operations, the Minister urged the State Governments to speed up exploration and mining activities to give further fillip to Atma Nirbhar Bharat. Shri Joshi said that six mineral blocks funded by NMET were auctioned by four State Governments during 2021-22 with a revenue generation stream of ₹1.63 lakh crore. Rs. 880 lakh has been released as an incentive during 2021-22 in favor of 14 State Governments by the Centre. The recent reforms undertaken in the mining sector are based on the views obtained from state governments, the Minister added.
The meeting was also attended by Minister of Petroleum & Natural Gas Shri Hardeep Singh Puri and the Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh as members of the governing body. Both the Ministers stressed the need to hold fruitful meetings with stakeholders from state governments for creating further momentum in exploration and mining.
Ministers of State Governments holding charge of Mines and Geology from the states of Karnataka and Madhya Pradesh also attended today’s meeting.
During the financial year 2021-22, NMET has performed exceedingly well in terms of sanctions of projects and providing funds to exploration agencies, surpassing the performance of previous years. The National Mineral Exploration Trust (NMET) was established in 2015 with the objective to increase mineral exploration in the country. The Governing Body (GB) of NMET lays down the broad policy framework for the functioning of the Trust and reviews its work.
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